Reuters: Bankruptcy News: PRESS DIGEST-Canada-Aug 8

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PRESS DIGEST-Canada-Aug 8 Aug 8th 2013, 10:19 Thu Aug 8, 2013 6:19am EDT Aug 8 (Reuters) - The following are the top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy. THE GLOBE AND MAIL * Locals in Lac-Megantic, Quebec, expressed anger as they learned that the Montreal, Maine & Atlantic Railway (MM&A), the rail company at the center of their ordeal, filed for creditor protection. The request came one month and one day after the devastating disaster caused by a runaway MM&A oil train. () * Real Women of Canada, a right wing women's group, is attacking Foreign Affairs Minister John Baird for defending the civil rights of gays abroad, suggesting the Conservative Party member of parliament is out of step with "conservative values" and the grassroots within his own party. () Reports in the business section: * Ken Lewenza, president of the Canadian Auto Workers union, and Dave Coles, president of the Communications, Energy and Paperworkers Union of Canada, will step down when the planned merger of the two unions takes effect in September. () * The announcement last week that the Russian potash producer OAO Uralkali is striking out on its own and breaking up one of the world's two potash cartels sent shock waves through the fertilizer industry and prompted bearish predictions of a 20 to 25 percent fall in potash prices. However, Potash Corp of Saskatchewan Inc Chief Executive Bill Doyle told frazzled investors on Wednesday the industry would persevere and there's no reason for panic. () * BlackBerry Ltd, which once controlled the smartphone market, now finds itself knocked back to fourth place. The latest report on worldwide smartphone market share shows the Waterloo-based company slipping behind the Windows Phone brand, Microsoft Corp's line of mobile devices. () NATIONAL POST * The Stephen Harper government says it has further tightened the rules governing its controversial temporary foreign worker program, confirming it will charge employers $275 for each application they make. () * Canadian Auto Workers (CAW) President Ken Lewenza will reportedly announce that he's stepping down in September. Media reports late Wednesday also said Dave Coles, the president of the Communications, Energy and Paperworkers Union of Canada, will also resign. Reports say Lewenza and Coles are expected to endorse senior CAW official Jerry Dias as president of the new combined union, called Unifor. () FINANCIAL POST * Montreal, Maine & Atlantic Railway has filed for bankruptcy protection in both Canada and the United States, setting the stage for a massive legal battle as lawyers for Quebec victims of one of North America's deadliest rail crashes target the railway's parent and the oil companies involved. () * Air Canada's shares soared nearly 24 percent on Wednesday after the airline surprised analysts by recording its best second-quarter revenue in its history and dramatically improved its operating income by successfully trimming costs. () * Three more senior BlackBerry Ltd executives "are leaving, or have already left" the struggling smartphone manufacturer this month, according to a spokesperson. These come as the latest in a string of departures, resignations and layoffs that have struck the Waterloo, Ontario-based company with increasing regularity. () Link this Share this Digg this Email Reprints

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